First you need a program called
"Avidemux"
Once you have that installed you need to launch it and open the video
that you want to chop.
Select the part of the video that you want to use as an animation using
the A/ and /B buttons.
A/ = Beginning
/B = End
Now you need to save your selection as JPEG files.
In Avidemux go to
File>Save>Save Selection as JPEG images...
Save the project to a new folder, then view the files in their folder
and delete any unwanted frames.
Next, fire up F-Spot photo manager, import the folder:
File>Import
To resize the frames we will need to export them.
In F-Spot you will need to click on browse and then hit CTRL+A to
choose the frames
Then export them:
File>Export>Export to folder...
Then reduce the amount of pixels to resize the frames.
Next you need to fire up the GIMP and open the first frame.
Next we need to open all the frames as layers.
To do this we need to go to our first frame and go to the menu:
File>Open as layers
Browse to the folder with all the frames in it and hit CTRL+A
Then hold CTRL and click on your first frame to deselect it and then
open the files.
Hit CTRL+L, that will bring up the layers.
To preview your animated image simply go to the picture window then:
Filters>Animation>Playback and hit play.
To help reduce the file size go to:
Filters>Animation>Optimize (for GIF)
All you have to do now is save the image as a GIF and choose to save it
as an animation.

Given this scenario, I
wanted to request a feature that I believe will be handy for a lot of
users with similar requirements.
Is there any way we can add a feature that takes in a pre-cut image and
makes an animated GIF out of it?
I understand GIMP is more for Image-editing and not Video-editing, but
if there is a provision from within GIMP to cut specific section from a
video file and convert to an animated GIF then it will be a superlative
feature.
Thanks for such a great tool,
KR